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Global lithium ion battery price survey and future prospects in 2019

(Summary description)

Global lithium ion battery price survey and future prospects in 2019

(Summary description)

  • Categories:News
  • Author:Pamela
  • Origin:Battery university
  • Time of issue:2020-03-13 17:13
  • Views:6
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The global average price of a lithium-ion battery pack in 2019 is $156 per KWH, down 87 percent from $1,100 in 2010, according to a report released yesterday by research firm bloomberg new energy finance BNEF. By 2023, the global average is expected to be as low as $100 per KWH.

 

The fall in lithium prices in 2019 is due to increased order sizes, increased sales of pure electric vehicles and the continued popularity of high-energy dense cathode ray tubes. Moreover, the introduction of new packaging designs and falling manufacturing costs will depress prices in the short term.

 

By 2024, the report predicts, lithium-ion batteries will fall below $100 a kilowatt-hour as total demand exceeds 2 trillion watts. By then, electric cars will cost about the same as internal-combustion vehicles.

 

James Frith, senior energy storage analyst at BNEF and author of the report, said: "on our projections, the battery market will be worth $116bn a year by 2030, excluding investment in the supply chain.

 

BNEF's analysis found that as batteries become cheaper, more industries are electrifying, such as commercial vehicles. However, low battery prices are still the most critical factor. Reduced capital spending on manufacturing, new packaging and a rapidly changing supply chain will lead to continued battery price cuts in the 2020s.

 

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